In the matter of Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1914

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1914 Hearing dates: 24 December 2014 Decision date: 24 December 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made for dismissal of application by defendants to stay or restrain the implementation of order made in principal judgment, and to vacate an earlier stay ordered after delivery of judgment. Costs be reserved. Catchwords: PROCEDURE – judgment and orders – application for stay or restraint of implementation of orders pending application for leave to appeal – whether defendants have demonstrated a reason or appropriate case to warrant exercise of discretion in their favour – whether an appeal is likely to be rendered nugatory in absence of a stay – balance of convenience – competing rights of parties – undertaking as to damages. Legislation Cited: - Corporations Act 2001 (Cth) s 444GA Cases Cited: - Alexander v Cambridge Credit Corporation Ltd (1985) 2 NSWLR 685 - AT Air Group Pty Ltd v Siewert (No 4) [2014] NSWSC 1186 - Kalifair Pty Ltd v Digi-Tech (Aust) Ltd [2002] NSWCA 383; (2002) 55 NSWLR 737 - Re Centro Properties Ltd (in its capacity as responsible entity of Centro Property Trust) [2011] NSWSC 1481 - Traderight (NSW) Pty Ltd v Bank of Queensland Ltd [2014] NSWSC 733 Category: Procedural and other rulings Parties: Matthew Jason Caddy, Anthony Gregory McGrath and Jason Preston in their capacities as joint and several deed administrators of Nexus Energy Ltd (subject to a deed of company arrangement) (Plaintiffs) Wingarra Pty Ltd (First Defendant) Jersey Investments Pty Ltd as trustee for Fraser Family Trust (Second Defendant) Detata's Pty Ltd (Third Defendant) Bellevue Holdings Company Pty Ltd (Fourth Defendant) Andrew Greig (Fifth Defendant) Tess Aust Pty Ltd (Sixth Defendant) Hannon Group Pty Ltd (Seventh Defendant) Alybrit Investments Pty Ltd (Eighth Defendant) Mayburys Pty Ltd as trustee for Carmich Superannuation Fund (Ninth Defendant) Vicsom Nominees Pty Ltd (Tenth Defendant) Peter Edwards (Eleventh Defendant) VBS Investments Pty Ltd (Twelfth Defendant) Pineross No 2 Investments Pty Ltd (Thirteenth Defendant) Kippilaw Pastoral Pty Ltd (Fourteenth Defendant) Ian James (Fifteenth Defendant) Peter Evans (Sixteenth Defendant) Hendrik Snyman (Seventeenth Defendant) Representation: Counsel: K Andronos SC/P Holmes (Plaintiffs) C R Newlinds SC/J Wright (Defendants) R G McHugh SC (Network Investment Holdings Ltd)